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2 years ago

One key difference between an oligopoly market and a competitive market is that oligopolistic firms.

1 answer:

3 0

A difference between an oligopolistic and a competitive firm is each firm's profits depend on other firms actions in oligopolistic markets while they do not in competitive markets.

<h3>What is a competitive firm?</h3>

A perfect competition is a market where there are many buyers and sellers of identical goods and services. Buyers and sellers are price takers.

<h3>What is an oligopolistic firm?</h3>

An Oligopoly is when there are few large firms operating in an industry. A cartel is a type of oligopoly where two or more producers come together to regulate either the price of their good or the quantity of their goods that would be supplied.

Here are the options to the question:

a) each firm's profits depend on other firms actions in oligopolistic markets while they do not in competitive markets.

b) oligopotisfic firms sell completely unrelated products while competitive firms do not.

c) oligopolistic firms sell their product at a price equal to marginal cost while competitive firms do not.

d) oligopolistic firms are price takers while competitive firms are not.

To learn more about oligopolies, please check: brainly.com/question/26130879

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2 years ago

Read 2 more answers

Why is cooperative skill important in good trade? give the reasons..

klio [65]

Answer:

Team cooperation encourages employees to work together for the benefit of the organization. It reduces the desire of employees to complete against each other,which often never good for the business,and instead focus on working together to achieve a common goal.

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2 years ago

The costs of direct materials, direct labor, and overhead for partially completed products are known as:

slavikrds [6]

The costs of direct materials, direct labor, and overhead for partially completed products are known as total manufacturing costs.

Direct material costs are the costs of raw materials and parts used to manufacture products. The materials must be clearly identifiable in the resulting product (otherwise they are considered community costs). Direct material costs are one of the few variable costs associated with the production process.

Therefore, it is used to derive the throughput from the production process. The throughput is the revenue minus all fully variable costs. Examples of direct materials include wood used to build houses, automobile steel, radio circuit boards, and fabrics used to assemble garments.

learn more about manufacturing costs here: brainly.com/question/8873972

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2 years ago

Lok Co. reports net sales of $4,970,000 for Year 2 and $8,532,000 for Year 3. End-of-year balances for total assets are Year 1,

Mumz [18]

Answer:Assets turnover ratio Year 2 =2.87 times

Assets turnover ratio for Year 3 = 4.58times

Explanation:

The total assets turnover is calculated as = Net Sales / Average total assets

also,

Average total assets = (Beginning assets + Ending Assets) / 2

Average total assets for Year 2 = ($1,684,000 +$1,780,000)/ 2 =$1,732,000

Average total assets for Year 3 = ($1,780,000 + $1,949,000 )/2 =$1,864,500

Assets turnover ratio Year 2 =$4,970,000 / $1,732,000 = 2.87 times

Assets turnover ratio for Year 3 = $8,532,000 / $1,864,500 = 4.58times

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3 years ago

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Why is the subject line of a business email important

Airida [17]

Answer:

The subject line often determines whether an email is opened and how the recipient responds. An email with a blank subject line will likely get deleted, lost, or immediately irritate the recipient, who is forced to open the email to figure out what it's about.

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